Affordable Homes of South Texas Inc

Analysis

Affordable Homes of South Texas Inc is a registered charity in United States, based in McAllen, TX. It received its IRS tax-exemption ruling in November 1976, 50 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Affordable Homes of South Texas Inc reported income of $9.8m and spending of $9.8m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.6m to $9.8m (+28%), an average of +6.4% a year. The sharpest change came in the year to September 2021, when income rose by 39%. Over the whole period it spent 90% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Affordable Homes of South Texas Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include Front Steps Inc ($9.8m), People Working Cooperatively Inc ($9.8m) and United Residents in Academy Homes II Inc ($9.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 37% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $425k (4.3% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $113.9m against liabilities of $59.3m, net assets of $54.6m. It reported 80 employees.